Jan 30 2011
Bolt Technology has revealed further information of its recent acquisition of SeaBotix, mentioning that the company has offered $10 million for SeaBotix. It was reported that Bolt technology will pay an additional amount up to $20 million if the revenue of SeaBotix increases to a particular level or it accomplishes significant milestones.
SeaBotix develops small remotely operated vehicles (ROVs), which are deployed for several undersea applications such as studying oceanography, observing fish in aquaculture farms, assessing cooling pools of nuclear reactor and also in saving sinking swimmers. These ROVs were employed by the US Army to examine Port-au-Prince’s underwater structures.
The ROVs of SeaBotix are sold via a small chain of distributors like Advex Marine. The company was enlisted in the Deloitte Fast 500 list of fastest-growth technology companies in the US over the last four years.
Source: http://www.bolt-technology.com